National Bank of Greece has completed a share offering and a highly successful bond placement in the space of two key months for the bank's turnaround.

Turkey’s economy is enduring a perfect storm, as political instability, scandals over corruption and the end of quantitative easing in the US combine to create volatility in the market.

The macroeconomic climate is taking its toll on Turkey's banks, with many predicting a difficult year for the industry. Growth avenues still remain, however, in the commercial loans and small and medium-sized enterprise sectors, not to mention the huge potential of tapping the country's large unbanked population.

When fears over a Chinese slowdown and the US interest rate cycle coupled with domestic political uncertainty to hit the Turkish lira, BNP Paribas proposed a long-term bond to re-establish the sovereign's credentials.

If the early 2000s were all about the emerging economies of Brazil, Russia, India and China, now attention is shifting to the up-and-coming countries of Mexico, Indonesia, Nigeria and Turkey – the MINTs. And with rapid economic growth predicted, retail banks in these countries will be under enormous pressure to keep up.

Turkey's impressive growth across numerous measures in recent years showed signs of slowing in 2013, and its image was further dented by civil unrest in June and July. However, will a more considered growth strategy be good news for the country's banking sector and investors?

Turkey’s transformation has been dramatic in the past few years, not least in its banking sector, which has seen impressive growth and responded well in times of crisis. But with a large unbanked population, extraordinary opportunities in the country still abound.  

Turkey's banks are acquiring a global reputation for innovative products, particularly those that connect them with the country's youthful population through social media. As Duygu Tavan discovers, this is increasingly being done through smartphones.